This follows various high profile insolvencies and financial problems with companies with
substantial pension deficits - Nortel Networks, Lehman Brothers, BHS - amongst others.
Although PCS has
a substantial pensions deficit, its immediate solvency isn't threatened and questions have been raised by many members as to the benefits of subsuming their union into Unite.
Not exact matches
Advised on the acquisition of a manufacturing conglomerate across multiple jurisdictions, including informing or consulting employee representatives, dealing with a
substantial defined benefit
pension scheme
deficit, and negotiating new service agreements for the board of directors
Because of the large
deficit in the Halcrow
pension scheme this would have led to Halcrow UK's insolvency and the loss of its
substantial UK business as well as job losses.